Top 10 Banks in the World 2022

Published in Top Brands category by MBA Skool Team, Last Updated: July 30, 2023

In this article, we have prepared the list of top banks in the world 2022 based on banking parameters of Revenue, Profits & Assets. Top banks have been playing a very pivotal role in the people’s lives. The money, its circulation, security, and management are preserved by the banks in each country. Chinese and American Banks have mostly held their positions for a considerable period of time. Other countries like France, Japan, United Kingdom, etc. have fought to reach the list of top 10 Banks in the world. The list of top 10 banks in the world is dominated by Chinese banks like ICBC, China Construction Bank, Agriculture Bank of China followed by banking giants JP Morgan, HSBC, BNP, Citi Group etc.

Top Banks in World by Revenue, Profits and Assets

Retail and Personal Banking, Corporate Banking, Asset Management, Loans, Investment Banking, etc. are the major functions of the banks and holding groups. The best banks have revolutionized the way they reach and provide services to the customers worldwide. Here is a list of top 10 banks in the world 2022.

Rank 1. ICBC

The Industrial and Commercial Bank of China which also commonly famous as “ICBC”.

Image: Wikimedia

The company is headquartered in the capital city, Beijing, China, and it is one of the biggest state-owned commercial banks of Republic of China, mainly noted as the “Big Four”. It ranked first in the Bankers’ Top 1000 and Forbes Global 2000 list of public companies in the world.

Initially, the bank was a local state-run bank established in 1984. The bank provides the services such as Finance and Insurance, Consumer Banking, Corporate Banking, Investment Banking, Investment Banking, Global Wealth Management, private equity, etc. Most of the voting rights are held by the Government of China through Central Huijin Investment, Ministry of Finance and China Securities Finance. Other holders are Temasek holdings and NSSF. The company provides employment to 4,62,000 employees. Industrial and Commercial Bank of China raised around 14 billion USD in Hong Kong Stock Exchange and 5.1 billion USD in Shanghai Stock Exchange. The bank has acquired major stakes in the banks like the Standard Bank of Argentina. Majorly, the banks have provided loans to the industries like manufacturing, transportation, storage, Power and Gas, Property Development, Construction, etc. The bank follows the international standards of Environmental and Social for Financial Institutions. It is the first Chinese bank to adopt the Equator Principles. The bank follows the Six-Dimension model for CSR activities. The model covers the values such as Green Bank, Brand Builder, Value Creator, Creditworthy Bank, Harmonious Bank and Charity Bank.

Revenue (in Billions of USD): 208

Net Profit (in Billions of USD): 54

Assets (in Billions of USD): 5518

Rank 2. China Construction Bank

When it comes to China, it has four large banks that have also fought for the positions in the top ten list of the world’s largest banks.

Image: Wikimedia

China Construction Bank is one of those banks in the “People’s Republic of China”. The bank has around 14,000 branches in China & it has international branches in more than 15 main cities of different countries worldwide, viz, New York, London, Barcelona, Singapore, Tokyo, etc. It is one the top banks in the world by revenue and assets. The bank is originally owned by the Government of China as a part of Ministry of Finance with over 4 hundred thousand employees. Due to separation procedure is undertaken by China Construction Bank being the predecessor bank, China Construction Bank Corporation was created as a joint-stock commercial bank in September 2004 as under the PRC Company Law of China. Bank of America started with almost around 95% of stake in the bank which now has reached billion 7.3 USD worth of shares. The bank was founded as the People’s construction bank of China which later changed its name. China Construction Corporation Bank investment division had launched a 0.7 billion USD fund called China Healthcare Investment Fund which aimed to focus on investments in China’s rapidly growing healthcare sector. The bank abides by the principles of sustainability by Economic development, Environmental protection by providing green loans and social development. Commitment to serving the real economy and actively supporting the national development strategy. The bank continued to follow and analyze the prospective business opportunities brought by the system of Five-Year plan implementation.

Revenue (in Billions of USD): 202

Net Profit (in Billions of USD): 46

Assets (in Billions of USD): 4746

Rank 3. Agricultural Bank of China

Agricultura Bank of China which is also known as “ABC” (acronym) or “AgBank”.

Image: Wikimedia

The bank is a part of the “Big Four” top banks of the Republic of China. The bank has around 320 million retail customers and over 2.5 million of corporate clients which makes it one of the biggest banks in the world and it is operated in nearly 24,000 branches worldwide. The bank’s initial public offering is known to fetch the largest amount of funding followed by Alibaba. The bank was founded in 1951 and has headquarters in Beijing, China. The Agricultural Bank of China was formed as a merger of the Republic of China, Farmers Bank of China and Cooperation Bank of China. The agricultural banks were absorbed in the government for two times. It was restructured as to be Agricultural Bank of China and created a holding company. The bank is listed on both “Shanghai Stock Exchange” as well as “Hong Kong Stock Exchange”. The main owners of the bank include Central Huijin Investment, Ministry of Finance of the Republic of China, National Social Security Fund and China Securities Finance whereas the first two has around 80% of the ownership combined. The rest two have nearly 5% stakes in the shares. Being the public company, other shares are available to the public. The bank houses the total of 5,00,000 employees in the world. Bank provides many products and services like Finance and Insurance, Consumer Banking, Corporate Banking, Investment Banking, Investment Management, Global Wealth Management, Private Equity, Mortgages and Credit Card facilities.

Revenue (in Billions of USD): 181

Net Profit (in Billions of USD): 37

Assets (in Billions of USD): 4561

Rank 4. Bank of China

Bank of China is one of the “Big Four” Banks of China and owned by the Government of China.

Image: company website

The bank provides the services like credit cards, corporate banking, consumer banking, securities, asset management, mortgage loans, private banking, finance and insurance, wealth management, etc. In 2009, by market capitalization value, the bank was ranked fifth globally. At the same time, it was China’s second largest lender bank as well. Forbes Global 2000 ranked it one of the largest company in the world. Other than Mainland of China, the bank has branches in 27 different countries and areas, i.e., Malaysia, South Africa, Vietnam, Philippines, Taiwan, Bahrain, etc. The foundation dates back in 1912 by the republican government which is also the oldest bank in the mainland of China. The Bank of China has two legally separate subsidiaries- Bank of China (Hong Kong) and Bank of China (Canada). Though the bank has operations outside China, but it accounts for only less than 4% of the activity of the bank by both profits whereas Mainland China accounts for more than 50% of the bank by profits and 75% by assets as in 2005. China Central Huijin which is an investment arm of the government of the People’s Republic of China holds 64.63% of shares in the Bank of China. Other ordinary shareholders are HKSCC Nominees Ltd.  and China Securities Finance which hold 27.78% and 2.9% shares respectively. Preference share owners are the Bank of New York Mellon, China Mobile Communications, China National Tobacco Corporation and Zhongwei Real Estate with having 39.96%, 18.01%, 5.00% and 3.00% respectively. There are around 310 thousand employees of Bank of China working globally.

Revenue (in Billions of USD): 152

Net Profit (in Billions of USD): 33

Assets (in Billions of USD): 4192

Rank 5. JPMorgan Chase

JPMorgan Chase & Co. is basically an investment bank company.


The firm also provides the services such as Asset Allocation, Debt Resolution, Credit Derivative trading and services, foreign currency exchange, futures, and options trading etc. JP Morgan is also a leader in Money Market trading, Risk Management, Mortgage-backed securities, Retail and Prime Brokerage, etc types of financial services. The firm has maintained a capital ratio of 15.2% until last year. It is one of the largest asset management companies and top banks in the world. JPMorgan Chase also carries the second position in the United States with its hedge fund unit. The JPMorgan Brand was traditionally known as “Morgan”. The bank formed when two firms were merged namely Chase Manhattan Corporation and J.P. Morgan and Co. The Corporation also consisted of a Chemical Bank Corporation and Bank One Corporation. The company is headquartered in New York City. The bank had gone through a number of mergers and acquisitions to land such a big position. The firm has around 2,50,000 employees worldwide currently. The company has strategic interests in the services like Consumer & Community Banking, Corporate & Investment Banking, Commercial Banking and Asset & Wealth Management. The bank has won the Best Banking Performer in the United States of America given by Global Brands Awards Magazine in 2016. Surprisingly, the Bank collects the Art, too. After the collection began in 1959, the bank has currently acquired 6,000 graphics based and 30,000 based art pieces. The heavy and successful finance banking company has met with many trading losses and other cases.

Revenue (in Billions of USD): 124

Net Profit (in Billions of USD): 42

Assets (in Billions of USD): 3954

Rank 6. Bank of America

Bank of America has headquarters in Charlotte, North Carolina.


It is the second largest bank in the United States by Assets which has a strong customer base. Bank of America is a multinational bank with a presence in United States of America, Canada, Asia Pacific, Europe, Middle East, Africa and Latin America. The bank also has 9% stake in the China Construction Bank with almost 3 billion USD value. The bank is also famous by its name “BofA”. The bank was ranked 11 by Forbes Magazine Global 2000 in 2016. The bank holds almost one-tenth of the total deposit in America which makes it one of the “Big Four” Banks of United States. The firm operates in all the states as well as other 40 countries in the world. It serves more than 45 million customers worldwide and has more than 4,500 banking centers enabling relations with many small and big businesses. With more than 15,000 ATMs globally, the bank has highly penetrated the network.  Services and products like Corporate banking, insurance, wealth management, mortgage loans, private banking, etc. can be availed from the bank. The firm has two prime divisions, Bank of America Home Loans and Bank of America Merrill Lynch with three subsidiaries, viz., Merrill Lynch, Merrill Edge and U.S. Trust. Capital ratio is maintained at 11.8% by the firm. The firm also involves itself into philanthropic economic activities as a part of its Civil and Social Service Responsibility. The United States workforce has more than 50% women working in the bank, even in high positions, the ration is nearly 50%.

Revenue (in Billions of USD): 96

Net Profit (in Billions of USD): 31

Assets (in Billions of USD): 3238

Rank 7. Mitsubishi UFJ Financial Group

Mitsubishi UFJ Financial Group is headquartered in Tokyo of Japan.


The company provides banking as well as other financial services, and it was listed as one of the largest top banks by assets globally. Not surprisingly, it is the largest holding group in Japan which holds around 1.8 trillion USD worth of deposits. The company was created as a result of the merger of Mitsubishi Tokyo Financial Group and UFJ Holdings based at Tokyo and Osaka respectively. The bank focuses on the services like Corporate Banking, Personal Banking, Investment Management and Banking, Mortgage and Credit Card Services, etc. The six subsidiaries of the firm include Mitsubishi UFJ Trust and Banking Corporation, The Bank of Tokyo-Mitsubishi UFJ, Mitsubishi UFJ Securities, UnionBanCal Corporation, Mitsubishi UFJ NICOS and Mitsubishi UFJ Lease and Finance. With over 100,000 employees in Japan, the bank is growing in all aspects of net profit, revenue as well as the assets. The major shareholders of the bank are Japan Trustee Services Bank, The Master Trust Bank of Japan, Nippon Life Insurance Company, Toyota Motor Corporation and other small shareholders. The bank has special Civil and Social Service Responsibility Committee which looks after the CSR and sustainability activities. In the field of Environment, the bank is considered to be ranked first in the renewable energy sector which handled the highest value of related project finances. Carbon Dioxide emissions are not given opportunities to increase, the bank ensures that environment-friendly projects are financed. Over 3,000 employees are on children leave in the MUFJ Group. The ratio of female manager is also rising an an impressive rate.

Revenue (in Billions of USD): 48

Net Profit (in Billions of USD): 11

Assets (in Billions of USD): 3176

Rank 8. BNP Paribas

BNP Paribas is a French Multinational Banking Group with its presence in more than 70 countries in the world.


The bank came into existence with the merger of Banque de Nationale de Paris and Banque de Paris et De Pay-Bas in 2000. Being one of the three big French banks, which also include Société Générale and Le Credit Lyonnais are other two French banks, BNP Paribas is serving more than 30 million customers in three main domestic markets of Belgium, France, and Italy. The bank has brands like BNL and Fortis. In the Western United States, the bank operates under the brand name of Bank of West. Consumer Banking, Corporate Banking, Asset Management, Investment Banking, Credit card Services, etc. are the services provided by BNP Paribas. BNP Paribas has managed to gain the position of the largest bank in the Eurozone and in the world by its value of total assets. In 2015, the bank has outstanding deposits and loans as 600.3 billion USD and 682.5 billion USD respectively with the highest revenue generated from its European operations. The BNP Paribas became the world’s fifth largest bank just after the Global Financial Crisis in 2008. In October 2008, the bank looked after the 75% activities of the Fortis Bank of Belgium and 66% in Luxemburg. The personal banking services are offered in more than 7,000 branches of the bank with providing the employment to 1,90,000 people globally. 9.3 million Euros have been allocated by the bank for the renewable energy sector in 2016 and it is committed to raising 6 million Euros more to it.

Revenue (in Billions of USD): 127

Net Profit (in Billions of USD): 9

Assets (in Billions of USD): 2995

Rank 9. HSBC

Formed by the initials, Hong Kong and Shanghai Banking Corporation was established in British Hong Kong earlier.


After some time, it was acquired by its British parent company, HSBC Holding Plc, and the bank is headquartered in London, United Kingdom in HSBC tower. Retail banking, wealth management, finance, insurance, credit card services, investment banking, corporate banking, etc. are the banking services provided by HSBC. Scotsman Sir Thomas had founded the bank in 1865 due to British colonization in Hong Kong during that period. The bank has acquired Marine Midland Bank based in United States of America, Banco Bamerindus and Roberts SA de Inversions of Argentina in the 20th century. It after, acquired Republic National Bank of New York at the end. Leaving some part of South Africa, the bank has it presence in all over the world including Asia, Europe, America, Australia and Latin America. Global product lines like HSBC Direct, HSBCnet, HSBC Advance and HSBC Premier are present which offer field-related services. For example, HSBC is direct online telephone banking operation for mortgage and other commercial purposes. The bank has overall 2,30,000 employees globally with positive variance in revenue, net profit, assets, equity and growth from last year. Talking about HSBC Sustainable Financial Highlights, the group was listed to be ranked first for the climate change initiative, SRI and sustainable research by institutional investors in Extel Survey. Moreover, it partnered with Cambridge Institute for sustainability leadership Banking Environment Initiative. Famous HSBC Water program which has committed 150 million USD over the period of eight years to be completed in 2019.

Revenue (in Billions of USD): 59

Net Profit (in Billions of USD): 12

Assets (in Billions of USD): 2957

Rank 10. Citigroup

Headquartered in the city of New York, Citigroup is one of the 24 primary dealers of United States Treasury securities.

Image: Wikimedia

The company is a leader in the fields of investment banking and other such financial services, and it was formed in 1998, with the merger of Citicorp and Travellers Group. It was a $140 billion deal between Citicorp, a multinational banking corporation with branches in over 100 countries, and Travelers Group, a firm specializing in credit services, consumer finance, brokerage and insurance. The City Bank of New York, predecessor of Citicorp, was founded in 1812, with Samuel Osgood being elected the first President of the group. The company’s name was soon changed into The National City Bank of New York, in 1865. The firm grew rapidly in these initial years, and by 1895, it had become the largest bank in USA. Citicorp became the first American bank to open an overseas branch in 1913, with a branch being opened in Buenos Aires. The firm also became the first bank ever to offer compound interest on savings in 1921. A host of other initiatives were also taken, with Citicorp becoming the first bank to offer unsecured personal loans and customer checking accounts, in 1928 and 1936 respectively. 1929 witnessed Citicorp becoming the largest commercial bank in the USA, a couple of years after it purchased the International Banking Corporation. Citicorp launched what would later be known as the Mastercard in the year 1967. The card became popular among the masses as the “Everything Card”.

The firm was officially renamed as Citibank in 1976, and it simultaneously launched “Citicards” to enable its customers to use ATMs round the clock. The Citigroup was officially created in 1998, following the merger of Citibank and Travellers Group. In 2009, the firm decided to create two distinct business units – Citicorp and Citi Holding; where the former would handle the retail and institutional client business and the latter would specialize in brokerage and asset management. The current CEO of the company is Michael Corbat, and the firm currently serves over 200 million customer accounts, spread over 160 countries. Citigroup currently employs over 230,000 employees.

Revenue (in Billions of USD): 80

Net Profit (in Billions of USD): 18

Assets (in Billions of USD): 2390

Ranking Methodology

1. The top 20 banks in the world are considered for the ranking

2. Parameters like revenues, net profits and assets are considered and are given weightage of 0.5, 0.2 and 0.3 respectively

3. A consolidated score is calculated and the final ranks are evaluated.

This article has been researched & authored by the Content & Research Team. It has been reviewed & published by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.

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